Question 1

The four utilities marketing creates are

Accepted Answer

A)  product, price, promotion, and place. 
B)  form, function, value, and image. 
C)  monopoly, monopolistic competition, pure competition, and oligopoly. 
D)  form, place, time, and possession. 
E)  natural gas, fossil fuel, electricity, and water.

Question 2

Which answer reflects (in this order)a good,a service,and an idea that can be marketed?

Accepted Answer

A)  a candy bar, a wastepaper basket, and a vending machine 
B)  a CD, a concert, and a souvenir T-shirt 
C)  a political candidate, democracy, and freedom 
D)  an iPod, an iPhone, and an iPad 
E)  a toothbrush, laser teeth whitening, and dental hygiene

Question 3

An inventor designs a scissors that has interchangeable blades that allow the user to switch from straight cuts to decorative cuts.Identify two possible target markets and explain your answer.

Accepted Answer

The answer of An inventor designs a scissors that has...

Question 4

To avoid new-product failure,new-product expert Robert M.McMath suggests

Accepted Answer

A)  implementing a regional rather than a nationwide rollout of a new product. 
B)  building a hierarchical organizational structure so that more people have a chance to spot product problems. 
C)  focusing on customer benefits and learning from the past. 
D)  increasing the marketing budget, since "success comes to those who can outspend the competition." 
E)  releasing several different versions of a new product at the same time to see which one is most successful.

Question 5

Marketers often discover consumer needs by

Accepted Answer

A)  implementing a marketing program. 
B)  conducting effective marketing research. 
C)  balancing the marketing mix elements-the four Ps of the marketing program. 
D)  advertising to diverse groups of prospective buyers. 
E)  copying the products and services of competitors.

Question 6

In U.S.business history,the marketing concept became a motivating force during

Accepted Answer

A)  the early years of the Civil War. 
B)  the 1920s. 
C)  the 1950s. 
D)  the mid-1980s. 
E)  the first few years of the 21st century.

Question 7

Which of the following statements describes an environmental force?

Accepted Answer

A)  Several states have legislation that requires people transporting children to use age- and height-appropriate car seats. 
B)  Tupperware has more than 200,000 independent dealers who market its entire product line. 
C)  A car battery comes with a lifetime guarantee. 
D)  An automobile dealer offers a $500 rebate during the month of July. 
E)  A major bottler offers a 10-cent refund on returnable bottles.

Question 8

The unique combination of benefits received by targeted buyers that includes quality,convenience,on-time delivery,and before- and after-sale service at a specific price is called

Accepted Answer

A)  customer value. 
B)  target marketing. 
C)  benefit proposition. 
D)  value-based marketing. 
E)  a customer value proposition.

Question 9

The Terrafugia Transition is a 19-foot,two-seater,road-drivable,light-sport aircraft with an anticipated price of $279 ,000.The most likely prospective customers for this flying car would include

Accepted Answer

A)  students who attend college at least 500 miles away from home. 
B)  retired seniors receiving Social Security. 
C)  executives for whom time is extremely important. 
D)  teens who like to try new things. 
E)  families in need of a second vehicle.

Question 10

American Express cardholders have access to early presales for Rihanna concert tickets in many cities.What utility does American Express offer in this instance?

Accepted Answer

A)  time utility 
B)  place utility 
C)  possession utility 
D)  market utility 
E)  form utility

Question 11

One or more specific groups of potential consumers toward which an organization directs its marketing program is referred to as a

Accepted Answer

A)  mass market. 
B)  base market. 
C)  potential market. 
D)  target market. 
E)  promotional market.

Question 12

All markets ultimately are composed of

Accepted Answer

A)  people. 
B)  brands. 
C)  products. 
D)  organizations. 
E)  governments.

Question 13

A student wants to buy a smartphone so she can share pictures with her friends.An insurance claims adjuster wants to buy a smartphone to document accidents (take pictures,write a report,etc.).If they both purchase the same model smartphone,such as an Apple iPhone,which statement is most accurate?

Accepted Answer

A)  The adjuster is a prospective customer because the smartphone will be used for work; the student is only a secondary user since the purpose of the smartphone is just for entertainment. 
B)  Both the adjuster and the student are potential customers because in their own way, they both benefit from the smartphone. 
C)  Neither the adjuster nor the student is a prospective customer since the company will pay for the adjuster's smartphone and the student's parents will pay for hers. 
D)  The student is the prospective customer since there are more students buying smartphones for personal use than there are insurance adjusters buying smartphones for business use. 
E)  Only a person who has bought a smartphone previously is a prospective customer because only previous owners of smartphones benefit from buying new ones.

Question 14

A television advertisement shows several teenagers searching through the pantry for something to satisfy their hunger.The pantry offers the teenagers many alternatives-cereal,chips,cookies,and some Cool Mint Chocolate Clif Bars.The ad,which shows the teens happily selecting the Clif Bars,appeals to the consumers' __________ for sustenance to satisfy their hunger and attempts to shape their __________ for the advertised product.

Accepted Answer

A)  needs; wants 
B)  requirements; needs 
C)  wants; preferences 
D)  demands; needs 
E)  needs; preferences

Question 15

Describe Chobani's distribution (place)strategy.

Accepted Answer

The answer of Describe Chobani's distribution (place)strategy....

Question 16

In response to a growing interest in healthful,simple products among consumers,Chobani introduced

Accepted Answer

A)  an Italian-style ragù sauce. 
B)  a Turkish-style cottage cheese. 
C)  a French-style butter. 
D)  a Greek-style yogurt. 
E)  an Asian-style teriyaki sauce.

Question 17

The place strategy in 3M's marketing program made it convenient for __________ to buy Post-it Flag Highlighters and Post-it Flag Pens.

Accepted Answer

A)  external salespeople only 
B)  college students only 
C)  office workers only 
D)  college students and office workers 
E)  teachers only

Question 18

A need refers to

Accepted Answer

A)  a sense of personal inadequacy based upon observations by others around you. 
B)  a sense of urgency, which causes a person to take action. 
C)  a feeling that is shaped by a person's knowledge, culture, or personality. 
D)  a feeling of vague lacking, but not fully understanding what may be required. 
E)  a feeling of deprivation of basic necessities such as food, clothing, and shelter.

Question 19

A business student is preparing for the Graduate Management Admission Test (GMAT)so he can get into a good graduate business school.He knows that any money he spends on a tutor will be worthwhile if he can improve his scores.He's heard that there is a great tutor in his local community but has no idea who she is.Marketing does not occur in this situation because

Accepted Answer

A)  two or more parties have unsatisfied needs. 
B)  there is no desire on the part of either party to satisfy its needs. 
C)  neither of the involved parties have the ability to satisfy its needs. 
D)  there is no way for the parties to communicate with one another. 
E)  there has been no assessment of consumer wants and needs.

Question 20

Which of the following conditions are necessary for marketing to occur?

Accepted Answer

A)  a changing environment, a method of assessing needs, a way to communicate, and an exchange location 
B)  parties with cash or credit, a product, a reasonable price, and a place to make an exchange 
C)  a quality product, a fair price, a clever method of promotion, and a place where a customer can buy the product 
D)  two or more parties with unsatisfied needs, a desire and an ability to satisfy them, a way to communicate, and something to exchange 
E)  an ability to see a trend within an environmental force, a product, and an affordable and actionable advertising campaign

Exam 1: Creating Customer Relationships and Value Through Marketing